Buhler Industries Signs Amalgamation Deal, Announces Going-Private Transaction With Asko Sinai

Buhler Industries Inc. is pleased to announce that it has executed a definitive Amalgamation Agreement (the "Amalgamation Agreement") with ASKO Sinai ve Teknoloji Üretim Sanayi Ticaret Anonim Şirketi ("ASKO") and a wholly-owned subsidiary of ASKO ("Newco") pursuant to which the Company would be taken private by way of an amalgamation (the "Amalgamation"). ASKO owns 24,184,586 Class A common shares ("Common Shares") representing approximately 96.7% of the Company's 25,000,000 issued and outstanding Common Shares. Prior to the Amalgamation, ASKO will transfer all of its Common Shares to Newco in exchange for common shares of Newco by way of a share exchange agreement.

Under the Amalgamation Agreement, the Company and Newco would amalgamate and continue as one company ("Amalco"). Pursuant to the Amalgamation: (i) each Common Share of the Company owned by public shareholders other than Newco (the "Minority Shareholders") would be converted into one redeemable preferred share of Amalco (an "Amalco Redeemable Preferred Share") and each Amalco Redeemable Preferred Share would then be redeemed by Amalco for CDN$7.30 (the "Redemption Amount") in cash immediately following completion of the Amalgamation; (ii) the Common Shares held by Newco would be cancelled without payment of capital; and (iii) ASKO would receive one common share in the capital of Amalco for each common share it holds in the capital of Newco. Upon completion of the Amalgamation and the subsequent redemption by Amalco of the outstanding Amalco Redeemable Preferred Shares, Amalco would continue to operate as a private company, wholly owned by ASKO under the Canada Business Corporations Act (the "CBCA").

The board of directors of the Company (the "Board") formed a special committee (the "Special Committee") comprised of Mr. Ossama AbouZeid as the sole independent director of the Company, to evaluate the Amalgamation and make recommendations to the Board. The Special Committee has engaged Burnet, Duckworth & Palmer LLP as its legal advisor.